News Releases 2012

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Corporate
Japan
January 31, 2012

Consolidated Financial Summary for the Fiscal 3rd Quarter ended December 31, 2011

TOKYO, Japan, January 31, 2012 - Honda Motor Co., Ltd. today announced its consolidated financial results for the fiscal third quarter ended December 31, 2011.

Despite the enormous impact of the flooding in Thailand to the company's business and the unfavorable currency effects due to the appreciation of the Japanese yen, consolidated operating income for the fiscal third quarter (October 1, 2011 through December 31, 2011) amounted to 44.2 billion yen, due mostly to the recovery of automobile sales in major markets, the contribution of steady motorcycle business in emerging markets, and companywide efforts. Furthermore, net income*1amounted to 47.6 billion yen despite the impact of tax revisions on the company's deferred tax assets.

As per the previously announced forecast, the quarterly dividend for the fiscal third quarter will be 15 yen per share of common stock with the record date of December 31, 2011. Despite the negative impact of the Great East Japan Earthquake, the flooding in Thailand, and the appreciation of the Japanese yen, the total annual dividend per share of common stock to be paid for this fiscal year (ending March 31, 2012) is also expected to remain 60 yen as per the previously announced forecast.

With companywide efforts to minimize the negative impacts of the decline in worldwide automobile production because of the Great East Japan Earthquake and the flooding in Thailand, and the historic appreciation of the Japanese yen, Honda made a revision to the forecasts for the consolidated financial results for this fiscal year as follows with:
・Net sales and other operating revenue: 7,850 billion yen
・Operating income: 200 billion yen
・Income before income taxes: 250 billion yen
・Net income*1: 215 billion yen

These forecasts are based on the assumption of worldwide automobile sales of 3.15 million units and the average currency exchange rates of 77 yen = USD 1 and 97 yen = Euro 1 for the fiscal fourth quarter and 78 yen = USD 1 and 106 yen = Euro 1 for the fiscal year.

Consolidated financial results for the fiscal third quarter and the fiscal nine months ended December 31, 2011

  3rd quarter ended Dec. 31, 2010 3rd quarter ended Dec. 31, 2011 Difference Fiscal nine months ended Dec. 31, 2010 Fiscal nine months ended Dec. 31, 2011 Difference
Unit sales
(million units)
Motorcycles*2 2.895 3.076 +0.181 8.511 9.103 +0.592
Automobiles*3 0.855 0.830 -0.025 2.652 2.149 -0.503
Power Products 1.157 1.021 -0.136 3.763 3.809 +0.046
Financial results
(billion yen)
Net sales and other operating revenue 2,110.4 1,942.5 -167.8 6,723.7 5,543.0 -1,180.7
Operating income 125.6 44.2 -81.3 523.5 119.3 -404.1
Income before income taxes 131.5 58.4 -73.0 553.9 164.3 -389.5
Equity in income of affiliates 43.4 22.9 -20.5 114.7 67.1 -47.6
Net income*1 81.1 47.6 -33.4 489.5 139.8 -349.6
Honda's
average rates(yen)
USD = 83 77 Yen up
by 6 yen
87 78 Yen up
by 9 yen
EUR = 112 105 Yen up
by 7 yen
114 110 Yen up
by 4 yen

Revised forecasts for the consolidated financial results for the fiscal year ending March 31, 2012

FY11 results FY12 forecast
revised on Jan.
31, 2012
Difference
Unit sales
(million units)
Motorcycles*2 11.445 12.660 +1.215
Automobiles*3 3.512 3.150 -0.362
Power Products 5.509 5.850 +0.341
Financial results (billion yen) Net sales and other operating revenue 8,936.8 7,850.0 -1,086.8
Operating income 569.7 200.0 -369.7
Income before income taxes 630.5 250.0 -380.5
Equity in income of affiliates 139.7 95.0 -44.7
Net income*1 534.0 215.0 -319.0
Honda's average rates (yen) USD = 86 78 Yen up
by 8 yen
EUR = 114 106 Yen up
by 8 yen
  • *1Net income attributable to Honda Motor Co., Ltd. based on U.S. generally accepted accounting principles.
  • *2Unit sales of approximately 0.75 million units for the current fiscal 3rd quarter, approximately 2.13 million units for the current fiscal nine months and approximately 2.94 million units for the forecast of the fiscal year ending March 31, 2012 of Honda-brand motorcycle products that are manufactured and sold by overseas affiliates accounted for under the equity method but do not use any parts supplied from Honda and its consolidated subsidiaries, are not included in total sales of our motorcycle segment or in our measure of unit sales, in conformity with U.S. generally accepted accounting principles.
  • *3Certain sales of automobiles that are financed with residual value type auto loans by our Japanese finance subsidiaries are accounted for as operating leases in conformity with U.S. generally accepted accounting principles. As a result, they are not included in the sales total for our automobile business segment or in our measure of unit sales.

For additional information, please visit;
http://world.honda.com/investors/library/financialresult/
where you can download financial results information.